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How to Void a Check

The purpose of a voided check is to provide your bank name, routing number, and personal account number. A voided check is a paper check with the word “void” written in large, bold letters across its face. Should someone get reporting in xero the voided check, the...

Debit Memo: Definition, Types & Examples

Bank fees are one reason a bank may use a debit memo to decrease an account balance. A bank will take money out of an account for insufficient funds, overdraft fees, bank service fees, and check printing fees, among other reasons. For example, if your business has...